#TrumpTariffs 🚨 Trump Pressures with New Tariffs as Negotiation Deadline Approaches 🌍📉
President Donald Trump is intensifying pressure on his trading partners to reach new agreements before a crucial deadline: July 9th. Starting today, Monday, the United States will begin sending letters to several countries, detailing the new elevated tariffs that could take effect on August 1, 2025.
What is happening and why is it so important?
* Ultimatum and Reciprocity: Trump has been clear: he seeks "reciprocal" trade agreements. After implementing a base tariff of 10% in April and threatening much higher rates, his administration had offered a temporary suspension of 90 days to allow for negotiations. That deadline culminates this week, and patience seems to be running out.
* Countries Under Pressure: Dozens of nations, especially those with significant trade surpluses with the U.S., are expected to be notified. Although the first 12 countries have not been publicly named, the European Union and India are among the partners that have struggled to finalize agreements and face the possibility of drastic tariffs on their exports.
* Additional Threat to the BRICS: In a recent turn, Trump has promised to impose an additional 10% tariff on "any country that aligns with the anti-American policies of the BRICS."
* Economic Impact: Experts warn that a prolonged escalation of these tariffs could have significant repercussions for businesses and consumers globally and in the U.S., leading to higher import prices, potential supply chain disruptions, and a slowdown in global economic growth. While agreements have already been reached with the United Kingdom and Vietnam, the outlook remains uncertain for most. Markets will be closely watching the letters sent today and the reactions from the affected countries.
Sky News, CBS News